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February 10: Qinetiq shares were priced at 200p today, just below the 205p which marked the top of the range it had indicated. The stock rose 7 per cent, or 14p, to 214p. Today marks the start of conditional trading: retail investors can trade from next Wednesday. There was a dreadful interview by John Humphrys on the Qinetiq float on this morning’s Today Programme at about 7.30. You can listen to it online.

Dubai’s DP World has won the bidding for P&O after PSA of Singapore pulled out today. DP World is paying 520p a share or £3.8bn.

Empire Online says it is in advanced discussions with PartyGaming about settling their legal dispute. Empire shares are up 1½ per cent and PartyGaming is off 0.5 per cent.

The Compass board came in for a very hard time at the annual meeting today. Our correspondent Salamader Davoudi had a ringside seat and sat there politely while Mike Bailey, the group’s embattled chief executive, had a swipe at the press. Most intemperate.